Bitcoin saw a high for the day exactly at the 500 day moving average at 43300/500. A break higher is a buy signal.
Ripple we wrote: has just beaten the 500 day moving average at 7980 to turn the outlook more positive. We have hit the 8400/8500 target as we look for 8950/9000, perhaps as far as the February high and very strong resistance at 9140/9160.
Ethereum led the way higher with a bounce from the 500 day moving average at 2540/2500 hitting targets as far as resistance at 3000/3050. A high for the day exactly here yesterday.
Analysis
Bitcoin was testing strong resistance at 43300/43500. Shorts need stops above 44000. A break higher is a buy signal targeting 46600/800 and perhaps as far as 49000/50000. Minor support at 40000 has held but below 39500 can target 38000/37700. If we continue lower, look for a retest of the March low so far at 37150. Just be aware that below here targets 36500/400, eventually as far as 33300/31100.
Ripple hit the 8400/8500 target but unexpectedly reversed from 8650. Bulls just cannot keep control of this market. Less likely now but if we continue higher look for 8950/9000, perhaps as far as the February high & very strong resistance at 9140/9160. Strong support at 8000/7900 and again at 7700/7560. A break below 7600 is a sell signal.
Ethereum's bounce from the 500 day moving average at 2540/2500 reaches resistance at 3000/3050. A break above 3150 is a medium term buy signal initially targeting 3200/3230...we should struggle to beat this level but a break higher eventually is a strong buy signal. Look for 3500 first target. Holding resistance at 3000/3050 meets strong support at 2800/2750. A break below 2700 is a sell signal.
Video Analysis